£42m property investment pumps new life into City Centre and the Old Town

£42m property investment pumps new life into City Centre and the Old Town

Iguana Developments has invested over £42m in Hull City Centre to refurbish three major property developments for residential use. These outstanding regeneration projects are attracting young professionals to experience city living, at a level that has never been seen before.

The purchase of Liberty House on Liberty Lane in the Old Town has recently completed and work started to convert the premises into twenty-five apartments for sale also featuring the same high specification complete with resident’s gym and cinema room.

The largest project of the trio is the much anticipated Police Station in Queens Gardens. It has been completely stripped back to a concrete frame and will be turned into ninety-four apartments, including twenty-one spectacular new-build duplex penthouses.

Jason Coleman Managing Director of Iguana Developments says:

“Each apartment has been fitted-out in designer luxury, fully furnished including LED TVs, top specification kitchens with built-in wine coolers, microwaves, and dishwashers, designer fully tiled bathrooms, App controlled heating and the fastest fiber optic internet of any building in Hull direct to the router!”

“We have been quiet until now about these developments, whilst works were completed, our vision has paid off as thirty-five out of forty-five apartments have been let within eight weeks, at the quietest time of the year with minimal marketing.”

“We are creating one hundred and seventy apartments in Hull. This influx of people use local amenities, bars, shops and restaurants and along with the other private developments such as the Fruit Market, we’re bringing Hull’s Old Town back to life.”

“As a business, we employ anywhere between forty and sixty local people at any one time along with my own team of five. We also use local contractors for the steel, cladding, and windows, a contract worth in excess of £3m on its own at Queen’s Gardens.”

Danny Gough, Managing Director of letting and managing agent MyPad says:

“As soon as I saw the plans for HU1 at Essex House I knew there would be huge demand, but even I have been surprised by the take-up. We put the first phase out to market in November, typically the most challenging time of year for lettings and were inundated with tenants wanting to move in immediately.”